Canara Rob Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Canara Rob Overnight Fund Direct Growth Plan is an overnight fund with a NAV of ₹1423.4012 as of 17 Sep 2026 and a scheme AUM of ₹736 Cr. Its 1-year, 3-year and 5-year returns are 5.22%, 5.99% and 5.65%, and its risk category is Low Risk.

Our view is that this is a conservative liquidity-oriented option rather than a return-seeking fund. The portfolio is dominated by TREPS, with small allocations to net receivables and treasury bills, so the fund’s behaviour should stay close to cash-like overnight deployment rather than equity-style volatility.

Quick facts

Particular	Details
NAV	₹1,423.4012 as of 17 Sep 2026
AUM	₹736 Cr
Expense Ratio	0.07%
Launch Date	24 Jul 2019
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Liquid
Exit Load	No exit load
Fund Managers	Suman Prasad, Avnish Jain

The fund is managed by Suman Prasad and Avnish Jain.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.39%	-3.66%
3M	1.27%	-3.71%
1Y	5.22%	-7.13%
3Y	5.99%	5.82%
5Y	5.65%	5.72%

The recent picture is steadier than the benchmark. Over 1M and 3M, the fund remained positive while the benchmark was negative, which points to a much calmer short-term path. That is consistent with an overnight mandate, where capital preservation and daily liquidity matter more than chasing visible swings in performance.

On a 1-year view, the fund’s 5.22% return is far better than the benchmark’s -7.13%, which also shows that the fund has not been dragged into broader market volatility. The gap narrows over longer periods. At 3Y, the fund is slightly ahead of the benchmark, while at 5Y it trails by a small margin. That mix suggests the fund has been broadly steady, but its longer-run edge is modest rather than pronounced.

The time pattern is also important. The fund’s path looks smooth with only small changes in direction, while the benchmark’s trajectory has been much more uneven. For an overnight fund, that is a useful signal: the main role here is not outperformance in every window, but consistency. Our view is that the returns line up with a low-drama cash-management profile.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Canara Rob Overnight?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Canara Rob Overnight Fund Direct Growth Plan	5.22%	5.99%	5.65%
Bank of India Overnight Fund Direct Growth Plan	5.51%	6.21%	5.83%
360 ONE Overnight Fund Direct Growth Plan	5.31%	Data not available	Data not available
Baroda BNP Paribas Overnight Fund Direct Growth Plan	5.29%	6.08%	5.72%
Nippon India Overnight Fund Direct Growth Plan	5.29%	6.09%	5.73%
JioBlackRock Overnight Fund Direct Growth Plan	5.28%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Against peers with available 1Y data, the fund’s 5.22% return is a touch below the stronger recent results in this group, where the better one-year readings are 5.51% and 5.31%. The difference is not large, but it does show that the fund has not been the fastest mover in the shorter window.

The longer-term picture is more mixed. Its 3Y return of 5.99% is behind the higher available 3Y readings of 6.21%, 6.09% and 6.08%, while its 5Y return of 5.65% is also slightly below the available peer figures around 5.72% to 5.83%. That suggests the fund has been competitive, but not the strongest on trailing compounding where data is available.

The short-term and longer-term peer comparison point in the same direction: the fund is reasonably steady, but a little lighter on returns than some peers with available histories. For an overnight fund, that may still be acceptable if the investor values predictability and cash-like behaviour over trying to squeeze out the last basis point.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	95.58%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	1.71%
182 DTB (10-Sep-2026)	Treasury Bills	1.36%
182 DTB (18-Sep-2026)	Treasury Bills	0.68%
91 DTB (17-Sep-2026)	Treasury Bills	0.68%

The largest holding, TREPS, carries a weight of 95.58%, so the fund is overwhelmingly anchored in overnight cash-style deployment. That level of dominance means the largest position is likely to have the greatest influence on the fund’s day-to-day behaviour, while the smaller positions mainly add marginal diversification and operational flexibility.

The weight drops sharply after the first holding. The next disclosed position is only 1.71%, and the treasury-bill lines are all below 1.5%. With only five disclosed holdings in total, the fund looks tightly concentrated rather than spread across a long tail of positions.

The top disclosed holdings account for 100% of the portfolio, which tells us there is no hidden tail in the visible holding set. For investors, that usually supports the idea of a straightforward overnight structure: the portfolio is simple, highly liquid and unlikely to carry meaningful stock-style concentration risk.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors with a very low risk tolerance who want short holding periods and high liquidity. The Low Risk tag, the smooth recent return pattern and the cash-heavy portfolio all point to a defensive parking place rather than a growth engine.

It is most appropriate when the goal is to keep money accessible while avoiding the volatility seen in the benchmark. The trade-off is that the return profile stays modest: the fund has held up well versus the benchmark in recent windows, but its longer-term returns remain close to overnight-fund territory rather than meaningfully above it.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: No exit load.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Canara Rob Overnight Fund Direct Growth Plan?
The current NAV is ₹1423.4012 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 5.22%, 5.99% and 5.65%.

How has the fund performed versus the benchmark?
It has stayed ahead of the benchmark in the 1M, 3M and 1Y windows, while the 3Y and 5Y comparisons are close.

How does it compare with peer funds?
Its trailing returns are competitive, but some peers have slightly stronger 1Y, 3Y and 5Y readings where data is available.

Is there a minimum SIP amount?
A minimum SIP amount is not stated here, so we are not treating one as available.

Who manages the fund and what is the exit load?
The fund is managed by Suman Prasad and Avnish Jain. There is no exit load.

Bottom line

Canara Rob Overnight Fund Direct Growth Plan has delivered a steadier short-term path than the benchmark, and its 3Y and 5Y numbers remain close to the broader overnight-fund range seen among peers. The recent return pattern is calmer than the benchmark, while the longer-term profile stays modest rather than aggressive.

The portfolio is the clearest signal: TREPS dominates, and the disclosed holding set is compact and highly liquid. That makes the fund suitable for conservative investors who want a simple overnight allocation and can accept that the return trade-off is limited upside in exchange for low volatility and easy liquidity.

Published on 18 September 2026 at 4:25 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.